Coinbase, the largest cryptocurrency exchange in the USA, managed to exceed the revenue expectations of investment experts.
According to the statement made by Coinbase, the company announced a revenue of $953.8 million in the last quarter of 2023, an increase of 41% compared to the previous quarter.
Analysts expected the company to post revenue of $826.1 million for the period, according to FactSet data.
“We achieved our financial goal, launched new and innovative products, strengthened our competitive position, and increased our efforts to create a workable regulatory framework for crypto in the United States,” Coinbase said. said.
Coinbase (COIN) shares gained more than 6% after markets closed, according to Yahoo Finance data.
The company stated that “transaction revenues increased 83% quarter-over-quarter to $529 million, primarily as a result of rising crypto asset prices and volatility.”